Parker Drilling (PKD) Receiving Somewhat Positive Media Coverage, Report Finds

Media stories about Parker Drilling (NYSE:PKD) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Parker Drilling earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave media coverage about the oil and gas company an impact score of 48.970474454528 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Separately, Zacks Investment Research cut Parker Drilling from a “hold” rating to a “sell” rating in a research note on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $1.25.

Shares of Parker Drilling stock opened at $0.73 on Thursday. Parker Drilling has a 12 month low of $0.72 and a 12 month high of $1.85. The company has a quick ratio of 2.76, a current ratio of 3.07 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $105.83, a price-to-earnings ratio of -0.81 and a beta of 1.58.

Parker Drilling (NYSE:PKD) last issued its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Parker Drilling had a negative return on equity of 33.28% and a negative net margin of 26.82%. The firm had revenue of $116.30 million for the quarter, compared to analyst estimates of $112.22 million. During the same period in the prior year, the firm posted ($0.39) EPS. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. equities analysts expect that Parker Drilling will post -0.61 earnings per share for the current year.

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About Parker Drilling

Parker Drilling Company provides contract drilling and drilling-related services, and rental tools and services to the energy industry. It operates through two business lines, Drilling Services and Rental Tools Services. The Drilling Services business line drills oil, natural gas, and geothermal wells with company-owned rigs and customer-owned rigs; and operates barge rigs for drilling oil and natural gas in the shallow waters in and along the inland waterways and coasts of Louisiana, Alabama, and Texas.

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